Notable Reporting: Is Buying 52-Week Stock Like Unum Group a Winning Strategy?

Notable Reporting: Is Buying 52 Week Stock Like Unum Group a Winning Strategy?

The stock of Unum Group (NYSE:UNM) hit a new 52-week high and has $60.98 target or 43.00% above today’s $42.64 share price. The 7 months bullish chart indicates low risk for the $9.90 billion company. The 1-year high was reported on Nov, 21 by Barchart.com. If the $60.98 price target is reached, the company will be worth $4.26B more.
The 52-week high event is an important milestone for every stock because it shows very positive momentum and is time when buyers come in. During such notable technical setup, fundamental investors usually stay away and are careful shorting or selling the stock. About 877,186 shares traded hands. Unum Group (NYSE:UNM) has risen 28.47% since April 19, 2016 and is uptrending. It has outperformed by 24.61% the S&P500.

Unum Group (NYSE:UNM) Ratings Coverage

Out of 7 analysts covering Unum Group (NYSE:UNM), 3 rate it a “Buy”, 2 “Sell”, while 2 “Hold”. This means 43% are positive. Unum Group has been the topic of 15 analyst reports since July 30, 2015 according to StockzIntelligence Inc. RBC Capital Markets maintained the stock with “Outperform” rating in Thursday, April 28 report. The firm has “Outperform” rating by RBC Capital Markets given on Wednesday, February 3. The stock of Unum Group (NYSE:UNM) has “Neutral” rating given on Thursday, December 3 by Bank of America. RBC Capital Markets maintained the shares of UNM in a report on Tuesday, November 15 with “Outperform” rating. The stock of Unum Group (NYSE:UNM) has “Sell” rating given on Friday, July 15 by Goldman Sachs. Credit Suisse initiated the shares of UNM in a report on Friday, October 7 with “Neutral” rating. The firm earned “Market Perform” rating on Friday, September 23 by Wells Fargo. The firm has “Underperform” rating by Bank of America given on Wednesday, June 29. Deutsche Bank maintained it with “Hold” rating and $39 target price in Friday, July 31 report. The rating was maintained by RBC Capital Markets on Thursday, July 30 with “Outperform”.

According to Zacks Investment Research, “UnumProvident is the industry leader in disability income protection and one of the top providers of supplemental benefits in the nation. The company’s subsidiaries offer comprehensive insurance solutions to help protect against the financial effects of accident, illness or death. Below are the countries in which we operate, and the companies that offer products in each country.”

Insitutional Activity: The institutional sentiment decreased to 0.81 in 2016 Q2. Its down 0.32, from 1.13 in 2016Q1. The ratio dropped, as 23 funds sold all Unum Group shares owned while 148 reduced positions. 56 funds bought stakes while 138 increased positions. They now own 215.33 million shares or 4.62% less from 225.76 million shares in 2016Q1.
Hartford Mngmt accumulated 61,398 shares or 0.04% of the stock. Robeco Institutional Asset Mgmt Bv holds 0.01% or 46,974 shares in its portfolio. Moreover, First Manhattan Communication has 0% invested in Unum Group (NYSE:UNM) for 1,100 shares. First Citizens Bank & Trust And Trust Co last reported 128,261 shares in the company. Franklin Resource last reported 59,782 shares in the company. Amp has 0.04% invested in the company for 171,236 shares. The North Carolina-based Piedmont Inv Advsrs Ltd Limited Liability Company has invested 0% in Unum Group (NYSE:UNM). Sei Invs Company accumulated 477,330 shares or 0.09% of the stock. First Interstate Bancshares last reported 0.17% of its portfolio in the stock. Usa Portformulas Corporation accumulated 12,756 shares or 0.11% of the stock. Pub Sector Pension Investment Board, a Quebec – Canada-based fund reported 45,026 shares. Charter Trust holds 0.03% or 9,411 shares in its portfolio. Quantbot Technology Lp last reported 0.3% of its portfolio in the stock. Services Automobile Association last reported 73,889 shares in the company. Asset Mgmt Of Georgia Ga Adv holds 0.2% or 8,134 shares in its portfolio.

Insider Transactions: Since May 31, 2016, the stock had 0 buys, and 4 sales for $2.42 million net activity. 16,983 shares were sold by McGarry John F, worth $698,681. WATJEN THOMAS R sold 40,000 shares worth $1.33M. Another trade for 1,600 shares valued at $59,179 was sold by Arnold Timothy Gerald. $331,930 worth of Unum Group (NYSE:UNM) was sold by Jerome Christopher J on Monday, November 14.

More news for Unum Group (NYSE:UNM) were recently published by: Forbes.com, which released: “Ex-Dividend Reminder: Unum Group, Tanger Factory Outlet Centers and Education …” on October 25, 2016. Zacks.com‘s article titled: “Unum Group (UNM) Q3 Earnings Beat Estimates, View Intact” and published on October 27, 2016 is yet another important article.

UNM Company Profile

Unum Group, incorporated on March 22, 1995, is a well-known provider of disability insurance products in the United States and the United Kingdom. The Firm also provides a portfolio of other insurance products, including employer and employee paid group benefits, life insurance and other related services. The Company’s divisions are Unum US, Unum UK, Colonial Life, Closed Block and Corporate.

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